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Risk Aversion Hits The Equity Market As Stocks Tumble – August 21st 2015 Fx Analysis

Today market both in the US and abroad took quite a hit. Like I’ve been saying for months it would seem like we are in a very precarious position. Everything is at a tipping point. Many times in history we have been at the tipping point but never so wide spread across the world. One thing that is certain is wise investors can flourish in any market. If your investing for cash flow like I discussed in a August 18th forex commentary then you will be in a much better position than those looking for capital gains. Another obvious form of investor that will do well through any market crash is traders with the ability to day trade short term market momentum. In fact those who know how to day trade short term market fluctuations tend to have far more opportunities during high volatility times. One thing that is certain is no one involved in the market will be bored.

EUR/USD Continues To Rally Hard

The Euro has been very surprising today in the strength it has shown from start to finish. In fact, over the last 3 days the EUR/USD has ran over 270 pips. As of right now the Euro is back above the previous major highs. Because we are in territory that we have not been in for quite a while, I do not have any upper manipulation points that I will be looking to trade from today. If any short were to setup it would require the market to form a new upper manipulation point. 

Today the Euro did produce a very nice trade setup near the end of our trading hours for the NY Session. I really had high hopes for this trade but the thing just simply would not move from the highs and now we see why with the continued move up that started a few hours later. This trade resulted in a break even close. The trade hit roughly +20 pips at best and was moved to break even. Very disappointed with this trade not getting more of a push down but overall with as bullish as the EUR/USD was I’m happy to have not taken a loss. 

EUR/USD Chart - August 21st 2015

Pound Remains In Wide Range

I really don’t have much to say about the GBP/USD today as not much has occurred over the last 48 hours. Overall the Pound has remained in a tight range and continues to stay there as of now. I’ve been very disappointed with the Pound overall as we had some great potential manipulation points from which to trade from. The issue we had however was no valid trade setting up. With that being said, if my worst case scenario is a no trade then I will take that as a worst case scenario every day of the week. Today my trade plan for the GBP/USD is no different than the last two days and I will continue to remain open on direction and trade any valid setup from one of the pre-selected manipulation points.

GBP/USD Chart - August 21st 2015

Forex News For August 21st 2015

German Manufacturing PMI 3:30 AM Eastern: This is not really a big market mover. This month 51.6 is the expected number. Anything close to a full 1 point deviation from the expected number will create a sizeable spike of at least 15 pips or more. 


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  1. Mitch
    Mitch August 21, 07:33

    Dear Sterling, I’m a great fan of your daily news! I only have a question: why don’t you use Pivot points (standard) on your chart: smart money uses these points daily!! Thanks and good luck trading, regards Mitch from the Netherlands, Amsterdam

    Reply to this comment
    • Sterling Suhr
      Sterling Suhr Author August 21, 16:58

      Remember the banks are the ones filling the orders…they are not taking speculative positions and as a result are not driving the market long term. I would however agree that many of those I would consider smart money that are NOT banks do you pivots. Many also use major fib retracement. With that being said they do hold some importance but I do not have them on the charts I use for the commentary.


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